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This Week in Real Estate: May 27-June 2

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Lead Photo: Riverside Avenue Villas model by D.R. Horton. Details below.

 

RESIDENTIAL

 

Video courtesy of WINK News

HOT REAL ESTATE MARKET MAKING IT HARDER TO FIND RENTALS IN SWFL

A red-hot housing market is forcing people out of their homes as some landlords are selling their valuable rentals, leaving fewer places to rent. The sellers’ market is putting renters in a difficult spot and leaving them with nowhere to go. The housing shortage has sparked a bidding war with some people paying a year of rent in advance, WINK News reports.

 

PBS CONTRACTORS COMPLETES VANDERBILT TOWERS RENOVATION 

PBS Contractors has completed the main entrance and common area at the Vanderbilt Towers of Naples, known as Tower 1. The complete demolition and renovation of the lobby, entertainment room and front entrance began last year, with the final piece of furniture installed earlier this month. “This was the first time the building had been renovated since it was originally built in 1972,” says Guillermo Ruiz, community association manager of Vanderbilt Towers. PBS shares this completion with design partners JMDG Architecture. 

 

D.R. HORTON OPENS RIVERSIDE AVENUE VILLAS MODEL

D.R. Horton Southwest Florida has completed the Canterbury model home in Riverside Avenue Villas, a luxury Emerald Homes community by D.R. Horton located on McGregor Boulevard just south of Cypress Lake Drive in Fort Myers. Currently starting in the mid-$300,000s, the home features a center-island kitchen and sliders off the great room that open to the paved lanai. Homebuyers have the option of adding a private, screened-in pool. The back of the home includes an owner’s suite featuring a walk-in closet and en suite bathroom. The home also has a den with double doors, a guest bedroom and a full bath, and a two-car garage and laundry area. Several homes are currently under construction and available at Riverside Avenue Villas with scheduled completion dates this summer.

 

COURTHOUSE SHADOWS DEMOLITION MAKES WAY FOR APARTMENT COMPLEX IN EAST NAPLES

Demolition recently began at the old Courthouse Shadows retail center on U.S. 41 East in East Naples. A 300-unit apartment complex will be built in place of the former Publix-anchored inline center and the vacant freestanding OfficeMax store and Buffalo Wild Wings restaurant. The first apartments are targeted for delivery there in September 2022, according to developer Johnson Development Associates. All of the Courthouse Shadows’ outparcels fronting the East Trail will remain operating as the old structures come down and new apartments take shape behind them. Starbucks drive-thru, That Taco Place restaurant, the Chevron gas station and Dunkin’ continue doing business there. 

 

COMMERCIAL

 

FORT MYERS INDUSTRIAL COMPLEX ACQUIRED FOR $3.7 MILLION

Schmitt Real Estate Holdings LLC purchased a 19,000-square-foot industrial complex comprising two buildings on five acres at 8790 Laredo Ave., Fort Myers, from 8790 Laredo LLC for $3.7 million. Meaghan Schmitt of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

NAPLES PROPERTY PURCHASED FOR $2.4 MILLION

Dinkytown Investors LLC purchased approximately 6,000 square feet of office/warehouse/flex space at 3800 Prospect Ave., Naples, from Springburn LLC for $2.4 million. David J. Stevens, CCIM and Christine Gonnering McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

NAPLES COMMERCIAL SPACE SELLS FOR $2 MILLION

Voigt’s Service Center Inc. purchased 7,400 square feet of commercial space from CDR Storage of Naples Inc., located at 5900 Yahl Street, Naples, for $2 million. William V. Gonnering, CCIM, SIOR and Christine McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

PUNTA GORDA PROPERTY PURCHASED FOR $1.95 MILLION

SES 095 LLC purchased eight flex condos totaling 16,000 square feet and two building pads on 5.73 acres in Acline Center at 3769-3789 Acline Road, Punta Gorda, from Marcel Imbert & Aljenabus LLC, for $1.95 million. Fred Kermani, CCIM, AIA of CRE Consultants negotiated the transaction.

 

NAPLES RETAIL PROPERTY BOUGHT FOR $1.7 MILLION

Gulf Coast Commercial Corp. purchased 11,256 square feet of retail space from RED-3 LLC, located at 4025 Radio Road, Naples, for $1.7 million. Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the Seller and David J. Stevens, CCIM of Investment Properties Corp. represented the buyer.

 

NAPLES COMMERCIAL SPACE SELLS FOR $1.2 MILLION

Schuster Properties 1 LLC purchased 3,430 square feet of commercial space from Jaifer Zabala LLC, located at 6063 Janes Lane, Naples, for $1.2 million. Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and Eric Edwards of LandQwest Commercial represented the buyer.

 

BONITA SPRINGS ACRES ACQUIRED FOR $625,000

Bella Lawn Maintenance LLC purchased 1.43 acres at 24591 Production Circle, Bonita Springs, from William Morris L/E for $625,000. Bill Young and Biagio Bernardo of Lee & Associates | Naples-Ft. Myers represented the seller and Eric Edwards of LandQwest Commercial Real Estate Services represents the buyer in the transaction.

 

LEHIGH ACRES LAND PURCHASED FOR $210,000

The Legacy Group purchased 1.15 acres at 5530 Second Street W., Lehigh Acres, from CNC Investments LLC for $210,000. Bill Young, Biagio Bernardo and Michael Mahan of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

NAPLES OFFICE CONDOS SELL FOR $750,000 

Real Estate Redefined LLC purchased 10 office condos totaling 9,233 square feet in Courtview Building at 2652-2666 Airport Road S., Naples, from Courtview LLC for $750,000. Fred Kermani, CCIM, AIA of CRE Consultants represented the seller and Lisa Wang of Sun Realty represented the buyer in negotiating the transaction.

 

NAPLES PROPERTY ACQUIRED FOR $480,000

Dr. Richard L. Bloy purchased a 2,002-square-foot office condo in Piper’s Crossing at 1213 Piper Boulevard, Suite 201, Naples, from MER Crossing 1 LLC for $480,000. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the seller and Patricia McClimans of SVN Lotus represented the buyer in negotiating the transaction.

 

CAPE CORAL MEDICAL OFFICE BUILDING BOUGHT FOR $435,000

Dennis Leaton and/or Assigns purchased a 1,862-square-foot fully leased medical office building at 3632 Del Prado Blvd., Cape Coral, from Seth & Jeanette Schurman for $435,000. Enn Luthringer, CCIM of CRE Consultants represented the seller and Jack Britton of Professional Realty Consultants represented the buyer in negotiating the transaction.

 

NAPLES ACRES ACQUIRED FOR $190,000

Kirk Sanders purchased three lots totaling 14.4 acres on Kam Luck Drive in Naples from An Trinh and Maria Nguyen for $190,000. Fred Kermani, CCIM, AIA of CRE Consultants represented the seller and Mildred Mercado of Seaside Properties of South Florida represented the buyer in negotiating the transaction.

 

FORT MYERS ACRES SELL FOR $155,000

5ROX LLC purchased 0.61 acres at 1539 Brantley Road, Lot 2, Fort Myers, from Bradley and Melloe Nash for $155,000. Stan Stouder, CCIM of CRE Consultants negotiated the transaction.

 

Video courtesy of WINK News

PLANS FOR THREE-BUILDING COMPLEX MOVE FORWARD IN FORT MYERS’ MIDTOWN

A new development in Fort Myers could be the key to more business moving to the area. Plans for a massive three-building complex in Midtown are moving forward. A four-story apartment building, a five-story building with upscale amenities and a six-story parking garage are set to make up what will be called The Montage at Midtown. The developer says the project will create nearly 700 jobs directly and indirectly with a nearly $130 million economic impact for a section of the city that needs a jumpstart, WINK News reports. The city is hoping this development will inspire other investors to consider the 243-acre Midtown, bordered by Dr. Martin Luther King Jr. Boulevard on the north, Edison Avenue to the south, Cleveland Avenue on the west and Evans Avenue to the east. 

 

COLLIER COUNTY COMMISSIONERS POSTPONE DECISION ON PROPOSED VILLAGES

After seven hours of public hearings last week, Collier County commissioners opted to postpone their decision regarding the future of two proposed villages in the rural area between Golden Gate Estates and Ave Maria. Collier Enterprises has proposed developing the villages of Bellmar and Longwater on a total of nearly 2,000 acres within the Rural Lands Stewardship Area zoning overlay district. Approval of resolutions for both villages would allow the development of up to 5,350 residential units, 133,750 to 1650,000 square feet of commercial and office space, and a minimum of 53,500 square feet of civic, governmental and institutional uses. Commissioner Burt Saunders requested tabling the decision on the villages because Commissioner Rick LoCastro was absent last week due to a family emergency. “I really think that this is so important that we need a full board,” Saunders said. The vote is expected at the commission’s next meeting on June 8.

 

SEAGATE REDEVELOPS 50,000-SQUARE-FOOT BUSINESS PARK

SW Management & Realty, a Seagate Development Group company, has redeveloped Metro Gardens based on the owner’s vision for quality improvement. Located at 2830 Winkler Ave. in Fort Myers, the 49,615-square-foot office building has resealed roofs, a repaved parking lot and updated landscaping with greater road visibility and curb appeal. Metro Gardens has two vacant office suites, down from 50% vacancy when George Graham, owner of Metro Gardens Office Partners LLC, acquired it at auction in August 2019. Last year, SW Management & Realty leased a 15,876-square-foot space to Area Agency on Aging for 15 years, which ultimately became the largest office lease in Lee County in 2020, the company reports. Seagate is currently fitting out a 6,751-square-foot space for Southwest Florida Home Care, which is relocating its Lee County headquarters to Metro Gardens.

 

FOGG’S NURSERY, HERB’S BBQ RELOCATE IN COLLIER COUNTY

Herb’s Best BBQ has a new location on Immokalee Road for its Saturday-only roadside food service in Collier County. The construction of Naples Classical Academy, rising quickly at 10270 Immokalee Road, caused underground utility issues that flooded the longtime location at the former Fogg’s Nursery site, necessitating a move. “It made it impossible for us to be there,” said Chef Herbert V. Small, owner-operator of Herb’s Best BBQ. Herb’s now operates from 11 a.m. to 6 p.m. Saturdays in front of Peace Lutheran Church, 9850 Immokalee Road, a short distance west from its longtime location. Meanwhile, Fogg’s Nursery & Mulch Supply has relocated its business about 13 miles northeast to 1770 E. Sanctuary Road in northern Golden Gate Estates. 

 

JERSEY MIKE’S SUBS OPENING LOCATIONS THIS SUMMER IN ESTERO AND EAST NAPLES

Jersey Mike’s Subs, a fast-casual restaurant brand that started on the Jersey Shore in 1956, plans to launch new locations this summer in East Naples and Estero. The Estero shop, scheduled to open by mid-June, will be Jersey Mike’s fifth location in Lee County. A franchisee leased 1,500 square feet of retail space in the Shoppes at University Highlands, 19521 Highland Oaks Drive, Suite 302, at Ben Hill Griffin Parkway and Everblades Parkway. The second Jersey Mike’s in Collier County is targeted to open in July in a 1,482-square-foot unit at Shops at Hammock Cove, 5040 Tamiami Trail E., Suite 200. Additional area franchises are planned for the fast-growing sandwich chain, which has more than 2,500 restaurants open or under development nationwide.

 

 

Video courtesy of WINK News

NORTH FORT MYERS FLEA MARKET CLOSES AFTER SIX DECADES

After operating for six decades on the former site of a drive-in movie theater, North Fort Myers Flea Market permanently closed last week after the property was sold in May. The Wednesday flea market is relocating to the Shell Factory at 16554 N. Cleveland Ave. in North Fort Myers, where some vendors already had spaces on other days. Nevertheless, visitors will miss the longtime local venue, WINK News reports.

 

LAMBORGHINI PLANS SUPERCAR DEALERSHIP IN EAST NAPLES

Lamborghini plans a supercar dealership in the second phase of the Shops of Hammock Cove on U.S. 41 East in East Naples. Representatives of Lamborghini of Naples met May 25 for a pre-application meeting with the Collier County Growth Management Department regarding the site development plan for a proposed 18,206-square-foot dealership with a showroom, offices and car wash for the high-performance exotic car brand. The 2-acre vacant commercial lot fronts U.S. 41 East between The Isles of Collier Preserve gated residential community and the Culver’s drive-thru restaurant at 5102 Tamiami Trail E. After a public hearing held Thursday morning, a hearing examiner will determine within 30 days whether to accept county staff’s recommendation that the use of a new luxury car dealership is comparable in nature to other permitted uses in the Sabal Bay mixed-use planned unit development. The proposed local dealership will be affiliated with Lamborghini Palm Beach in West Palm Beach.

 

MK ARCHITECTURE PROGRESSES WITH ROMAN ROOFING DESIGNS

MK Architecture has reached the halfway point in the design and drawing production for two new industrial buildings for the expansion of Roman Roofing, residential and commercial roofing contractors in Cape Coral. The project consists of a 9,000-square-foot office and employee recreation building and another 7,000-square-foot pre-engineered storage building to be located at the company’s existing location in northeast Cape Coral. Roman Roofing is a residential and commercial roofing contractor. The project is currently in the construction documents phase and is expected to be break ground by the fourth quarter of 2021.

 

Encompass Health

B & I JOINS ENCOMPASS HEALTH PROJECT IN NAPLES

B & I Contractors, a Southwest Florida-based mechanical, plumbing and electrical subcontracting and building services firm, was awarded the $2.5 million electrical scope for the new ground-up Encompass Health project in Naples. The Encompass Health Rehabilitation Hospital of Naples will offer inpatient physical therapy services to patients. B & I’s scope of work for the 50-bed facility will consist of providing Florida Power and Light primary to the site and incoming electrical service with backup generators. B & I is also responsible for the interior and lighting controls, fire alarm system, pathways for all telecommunications and the nurse call systems. Groundbreaking is slated for the beginning of June, and the project will take approximately 12 months to complete. 

 

LEASES

Zing Quality Furniture Inc. leased a 34,797-square-foot space in Jetport Loop at 14651 Jetport Loop, Suite 100-130, Fort Myers, from Knott Realty Group. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR of Lee & Associates | Naples-Ft. Myers represented the landlord and James Walls, also with Lee & Associates | Naples-Ft. Myers, represented the tenant in the transaction.

 

Believe Dream LLC leased 3,459 square feet of retail space at 3507 Lee Blvd., No. 103, from Lehigh Office LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord in negotiating this transaction.

 

CC Shutters leased 3,000 square feet of warehouse space at 16121-3 Pine Ridge Road, Naples, from Boyce Holdings III, LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating this transaction.
 

Silver Group, LLC leased a 2,120-square-foot space at 5011 Luckett Road, Unit 6, Fort Myers, from Sunset Palm Properties LLC. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates | Naples-Ft. Myers represented the landlord and Dario Peretti of Green Life Realty, Inc. represented the tenant in the transaction.
 

Angle Right Surveying LLC leased a 2,120-square-foot space at 5011 Luckett Road, Unit 9, Fort Myers, from Sunset Palm Properties LLC. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates | Naples-Ft. Myers negotiated the transaction.
 

Michael S Hagen Attorneys P.L. and TaxCuts1 Inc. leased 1,978 square feet of office space at 5290 Summerlin Commons Way, No. 1003, Fort Myers, from Gulf Stream East LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating this transaction.

 

Araba Temple Holding Co Inc. leased a 1,780-square-foot industrial space in Metro Commerce Center at 11220 Metro Pkwy., Unit 23, Fort Myers, from Metro Commerce Center  LLC. Randal Mercer of CRE Consultants represented the lessor and Skip Kitchens of Aubuchon Realty Group negotiated the transaction.

 

Van Eliza Design LLC leased a 1,580-square-foot industrial space in Collier Park of Commerce at 2960 Horseshoe Drive S., Unit 1000, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Amy Norris leased 1,356 square feet of office space at 2090 Hendry Street, Fort Myers, from Karr Commercial Hendry LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating this transaction.
 

Uh-Maze Bowls LLC leased a 1,328-square-foot space in the Meridian Market Place at 3369 Pine Ridge Road, Building 300, Suite 103, Naples from Pine Ridge Livingston LLC. Biagio Bernardo and Bill Young of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

EVENTS

LEADERSHIP NEXT TO DISCUSS REAL ESTATE MARKET

Leadership Next, a monthly program for advancing business professionals, will host a networking program 5-7 p.m. on June 8 at the Greater Fort Myers Chamber of Commerce, to discuss the current condition of Southwest Florida’s real estate market and the Lee County tax certificate sale. Leadership Next attendees will learn the latest insights into the local real estate market, presented by Jason Jakus on behalf of the Royal Palm Coast Realtor Association (RPCRA). Noelle Branning and John Bodner of the Lee County Tax Collector’s Office will lead the discussion on the tax certificate sale and what property owners and buyers need to know about real estate taxes. Parking is available across the street from the chamber in the grass lot of the Florida Repertory Theatre, accessible by Bay Street. Admission is free for Chamber members and $10 for future members. It includes one complimentary drink provided by Fort Myers Brewing, a non-alcoholic beverage from Coca-Cola Florida and food provided by Buffalo Wings and Rings. Register in advance here

 

ON THE MOVE

Premier Sotheby’s International Realty announces the following sales professionals have affiliated with the company’s Naples area sales gallery locations: Ron Gunther, Mikael Roussel, Donna Schrim and Lauren Schrim, Vanderbilt; Diane Harris, Broad Avenue; Greg Peratt, Bonita Springs; and Mallory Schiffer, Sanibel.

 

WDG Architecture | Planning + Interiors of Naples has rebranded to JMDG Architecture | Planning + Interiors. The rebrand is part of a strategic effort to distinguish the firm locally throughout Florida and nationally as its client base and presence have expanded beyond the Southwest Florida region. JMDG represents Jones Mongillo Design Group, led by partners Thomas Jones and Robert Mongillo. JMDG maintains the firm’s luxury residential, commercial and interior architecture studios. The rebranding includes the firm’s recent expansion with in-house professional real estate and structural engineering services.  

 

 

Sandra Drechsler

Clive Daniel Home has welcomed interior designer Sandra Drechsler to its Naples showroom. Drechsler brings an international flavor to Clive Daniel Home, hailing from Dusseldorf, Germany, by way of London. Before moving to the U.S., Drechsler spent 19 years as creative director for Taylor Howes Designs, leading a team of up to 18 designers. She also oversaw 15 designers as interiors manager in the aviation and yachts division of Winch Design in London. Drechsler has received multiple accolades, including the 2017 UK Creative Director of the Year Award and the 2006 Andrew Martin International Interior Designer of the Year Award. Her work has been featured in publications including Architectural DigestFinancial TimesFlorida DesignVogue Living and the Andrew Martin books. She holds an associate’s degree from the Art Institute of Fort Lauderdale.

 

 

Zannon Garza

DeAngelis Diamond has added Zannon Garza as director of strategic development. Zannon is responsible for networking, community involvement, and developing relationships with potential and existing clients in her new role. Zannon graduated from the University of Florida with a Bachelor of Science in business administration and marketing before returning to Southwest Florida. She comes to DeAngelis Diamond after several years in director roles with the American Heart Association. Based out of the company’s Naples office, Zannon will serve the Southwest Florida region.

 

KUDOS

The Housing Authority of the City of Fort Myers (HACFM) and the City of Fort Myers have been awarded a $30 million grant from the U.S. Department of Housing and Urban Development (HUD) that will help fund a major revitalization project within the greater Dunbar community. The Greater Dunbar Initiative is a comprehensive transformation plan for the large-scale revitalization of the 37-acre, 199-unit Southward Village into a mixed-income community. The Greater Dunbar Initiative was selected as one of just five initiatives across the country, and the only one in Florida, to receive the coveted grant through HUD’s Choice Neighborhoods Implementation Grant program. The Greater Dunbar Initiative’s transformation team consists of HACFM and the City of Fort Myers, along with McCormack Baron Salazar, Urban Strategies, The School District of Lee County and many local nonprofits, government entities and community partners.

 

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